The Bank of Nova Scotia filed a free writing prospectus on November 4, 2026, disclosing preliminary terms for Autocallable Strategic Accelerated Redemption Securities linked to the EURO STOXX 50 Index, offered at $10.00 per unit with a term of approximately three years.

Key Highlights

  • Principal amount: $10.00 per unit, with up to 100.00% of principal at risk if the notes are not called.
  • Call Level: Set at 100.00% of the Starting Value; automatic call is triggered if the Observation Level equals or exceeds this threshold on any Observation Date.
  • Potential Call Amounts: [$11.05 to $11.15] on the first Observation Date, [$12.10 to $12.30] on the second, and [$13.15 to $13.45] on the third, each to be determined on the pricing date.
  • Observation Dates: Approximately one, two, and three years from the pricing date.
  • Downside exposure: If not called, the filing discloses "1-to-1 downside exposure to decreases in the Market Measure."
  • No exchange listing: The notes will not be listed on any exchange, according to the filing.
  • Issuer credit risk: The filing states that if BNS "becomes insolvent or is unable to pay its obligations, you may lose your entire investment."

Bank of Nova Scotia Discloses Preliminary Terms for EURO STOXX 50-Linked Autocallable Notes

According to the free writing prospectus filed pursuant to Rule 433 under Registration Statement No. 333-298611, The Bank of Nova Scotia is offering Autocallable Strategic Accelerated Redemption Securities linked to the EURO STOXX 50 Index (Bloomberg symbol: "SX5E"). The notes carry a principal amount of $10.00 per unit and a term of approximately three years, subject to earlier automatic call. The filing states that final terms will be set on the pricing date within the given ranges disclosed in the preliminary documents.

The filing describes an automatic call mechanism: if the closing level of the Market Measure on any Observation Date equals or exceeds 100.00% of the Starting Value (the Call Level), the notes are called and investors receive the applicable Call Amount. The disclosed Call Amount ranges are [$11.05 to $11.15] for the first Observation Date, [$12.10 to $12.30] for the second, and [$13.15 to $13.45] for the third. The filing notes that if called, "your return on the notes is limited to the applicable Call Premium."

If the notes are not called by the final Observation Date, the filing discloses that investors face "1-to-1 downside exposure to decreases in the Market Measure, with up to 100.00% of your principal amount at risk." No interim interest payments are made. The filing also cautions that the initial estimated value of the notes on the pricing date will be less than the public offering price, and that secondary market value may be lower than both the public offering price and the initial estimated value. The filing additionally notes that investors "will not obtain the benefit of any increase in the value of the euro against the U.S. dollar."

What Was Disclosed

The Bank of Nova Scotia disclosed preliminary terms for autocallable structured notes linked to the EURO STOXX 50 Index, including a $10.00 per unit principal, potential call amounts ranging up to [$13.15 to $13.45], full downside risk if not called, and no exchange listing for the notes.